HY 204 1st Edition Lecture 51870-1900 New Gilded AgeI. The Second Industrial RevolutionA. Central Pacific and Union Pacific Railroads connect to form transcontinental RRa. RRs break seasonal cycle and can operate year-roundb. Connect the cities of Sacramento, CA to Omaha, NEc. Spearheaded by Lincoln under the Railroad Act of 1862; military decision attempting to bind the country togetherd. Builds cities, create larger markets, consume goodsB. Technological Transformations: Communicationa. Alexander Graham Bell invents the telephone in 1876b. Thomas Edison i. Phonograph (1877), light bulb (1879), electric power generator (1880)C. New Forms of Businessa. Carnegie learns business tactics by working in the RR and telegraph industryi. Founder of Carnegie Steelii. Practices vertical integration1. Owns everything and controls all aspects of businessb. John D. Rockefeller founded Standard Oil Companyi. Creates monopoly with his business; by 1880’s controls 90% of oil industryD. Government Aid to Big Businessesa. Union Pacific RR gets support from government because it doesn’t generate much revenue yetb. Huge land grants given to the RR to encourage people to settle the WestThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.c. Lax incorporation laws allowing businesses to pop up easilyE. Cheap Immigrant LaborII. Era of Mass-Marketed Consumer GoodsA. Coca-Cola Capitalism a. John Pemberton invented Coca-Cola in Atlanta in 1886i. Inspired by European wine laced with cocaineii. 1886 removes wine and replaces with soda water1. Caves to the prohibition movements requests2. Soda water cuts price in half3. Still contains cocaine until 1903b. Vertical integration -> US Sugar Trust of 1887i. Sugar became more readily available; 3 cents/lb. III. Beneath the Golden FaçadeA. Dispossessing Native Americans of their land a. Battle of Little Bighorn, 1876 Montana Territory i. General Custer and his men all killed1. US Gov. lost the battle but won the warb. Dawes Severalty Act of 1887 i. Forced Native Americans to farm the land for the gvt. or face displacement c. Wounded Knee was the last major violent conflict between Natives and American Gvt. Growing Wealth